The Coming Glut

Why the wine industry's long string of
price hikes is about to end

R emember that rather good Californian Cabernet you used to pick up back in the 1980s for $10 a bottle? Well, chances are that today, for the same quality wine, you'll have to pay something a lot closer to $30, maybe even $40. The fact is, for the past decade or so, wine prices have been rising rapidly in what everyone agrees has been a classic seller's market. The price hikes have been especially stiff on the best red wines, but prices have also doubled on some high-quality Chardonnays and Sauvignon blancs.